2024年CFA二級考試安排如下圖所示:
CFA二級報名要求
報名參加CFA二級考試,需要通過CFA一級考試。
以本科在校生身份參加CFA一級考試的考生,最早可選擇處于學士學位課程或同等項目畢業(yè)月份前11個月及以內的考試窗口。例如,2025年6月畢業(yè)的四年制本科在校生,若已經通過CFA一級考試,最早可報名大三暑假(2024年8月)的CFA二級考試。
證件要求:和一級考試一樣,報名和參加CFA考試須持有效的國際旅行護照。對于計劃在中國內地參加CFA考試的考生,除護照之外,也可以使用中華人民共和國居民身份證進行考試報名。
CFA二級報名費
早鳥階段報名費:$940
標準階段報名費:$1250
其它費用:
首次報名注冊費:$350(僅需支付一次)
紙質版教材:$150(可自選)
電子版教材費:$49(可自選)
補充題庫:$299(可自選)
CFA二級考綱變動詳情
1.考綱細則無變動的科目
固收:原來的5個Reading現(xiàn)調整為5個Learning Module??季V細則無變動。
道德:原來的3個Reading現(xiàn)調整為3個Learning Module??季V細則無變動。
衍生:原來的2個Reading現(xiàn)調整為2個Learning Module。考綱細則無變動,僅順序有一定微調。
經濟:原來的3個Reading現(xiàn)調整為3個Learning Module??季V細則無變動。僅將原Reading 7 Economic growth and the investment decision的標題變成Learning Module 2 Economic growth,考綱細節(jié)內容無變動。
另類:原來的3個Reading現(xiàn)調整為5個Learning Module??季V細則無變動。但新考綱Module 3 LOS a-b,將原考綱k,l中對REITS的描述改為publicly traded real estate securities。
2.考綱細則刪除的科目
組合:原來的7個Reading現(xiàn)調整為7個Learning Module。
原Reading 42 Economics and investment markets對應的是Learning Module 5。
?其中刪除了一條考綱k describe how economic analysis is used in sector rotation strategies。
權益:原來的8個Reading現(xiàn)調整為4個Learning Module。
?刪除Reading 21 Return concepts收益概念和Reading 22 Industry and company analysis公司和行業(yè)分析,其余部分考綱細則不變,僅考綱順序進行了微調。
3.考綱細則新增的科目
財報:原來的6個Reading現(xiàn)調整為7個Learning Module。
新增考綱:Financial Statement Modeling財務報表建模
全章節(jié)新增,部分內容與2022年權益Reading 22 Industry and company analysis行業(yè)和公司分析接近。
新增考綱細則如下:
?。?)compare top-down,bottom-up,and hybrid approaches for developing inputs to equity valuation models
?。?)compare“growth relative to GDP growth”and“market growth and market share”approaches to forecasting revenue
?。?)evaluate whether economies of scale are present in an industry by analyzing operating margins and sales levels
(4)demonstrate methods to forecast cost of goods sold and operating expenses
?。?)demonstrate methods to forecast non-operating items,financing costs,and income taxes
(6)describe approaches to balance sheet modeling
?。?)demonstrate the development of a sales-based pro forma company model
?。?)explain how behavioral factors affect analyst forecasts and recommend remedial actions for analyst biases
(9)explain how competitive factors affect prices and costs
?。?0)evaluate the competitive position of a company based on a Porter’s five forces analysis
?。?1)explain how to forecast industry and company sales and costs when they are subject to price inflation or deflation
?。?2)evaluate the effects of technological developments on demand,selling prices,costs,and margins
?。?3)explain considerations in the choice of an explicit forecast horizon
?。?4)explain an analyst’s choices in developing projections beyond the short-term forecast horizon
數量:原來的5個Reading現(xiàn)調整為7個Learning Module。
?刪除原Reading 1 Introduction to linear regression一元線性回歸內容下放到一級數量中的最后一個模塊。
原Reading 2 Multiple regression多元回歸內容拆分成4個模塊module 1-module 4。
與原Reading 2考綱細節(jié)做比對,考綱的順序、表示和知識點都有較大變化,部分考綱進行了拆分,變化結果如下:
?考綱刪除3條:
?。?)formulate a null and an alternative hypothesis about the population value of.a regression coefficient,calculate the value of the test statistic,and determine whether to reject the null hypothesis at a given level of significance;
(2)interpret the results of hypothesis tests of regression coefficients;
?。?)evaluate and interpret a multiple regression model and its results.
??考綱新增2條:
(1)describe the types of investment problems addressed by multiple linear regression and the regression process
?。?)describe influence analysis and methods of detecting influential data points
原Reading 4對應的是module 6。其中新增了一條考綱f describe supervised machine learning,unsupervised machine learning,and deep learning.
公司金融:考綱變動最大的科目。原來的5個Reading現(xiàn)調整為4個Learning Module。
?刪除原Reading 15 Capital Structure資本結構章節(jié)和Reading 19 Capital Budgeting資本預算章節(jié),精簡并下放到一級。
??新增:Cost of Capital:Advanced Topics
新增考綱細則如下:
?。?)explain top-down and bottom-up factors that impact the cost of capital
?。?)Compare methods used to estimate the cost of debt.
?。?)explain historical and forward-looking approaches to estimating an equity risk
premium
?。?)compare methods used to estimate the required return on equity
(5)estimate the cost of debt or required return on equity for a public company and a private company
?。?)evaluate a company’s capital structure and cost of capital relative to peers
原Reading 18 Measures and Acquisitions兼并收購章節(jié)調整為Learnings Module 4 Corporate Restructurings企業(yè)重組,章節(jié)內容完全重寫,新增內容為各種公司重組事件、他們的分析和納入財務模型的預測和估值。
企業(yè)重組模塊考綱細則如下:
?。?)explain types of corporate restructurings and issuers’motivations for pursuing them
?。?)explain the initial evaluation of a corporate restructuring
?。?)demonstrate valuation methods for,and interpret valuations of,companies involved in corporate restructurings
(4)demonstrate how corporate restructurings affect an issuer’s EPS,net debt to EBITDA ratio,and weighted average cost of capital
?。?)evaluate corporate investment actions,including equity investments,joint ventures,and acquisitions
?。?)evaluate corporate divestment actions,including sales and spin offsevaluate cost and balance sheet restructurings